Close Menu

US and EU groups call for tariff truce

A coalition of 72 US and EU trade associations has written to president Joe Biden and European Commission president Ursula von der Leyen urging the immediate removal of tariffs.

Trade bodies on both sides of the Atlantic have called for the removal of tariffs

Trade bodies from both sides of the Atlantic have called for the immediate suspension of tariffs on sectors unrelated to the ongoing dispute over subsidies for plane manufacturers Airbus and Boeing.

A statement submitted to Biden and von der Leyen has been signed by groups including the American Craft Spirits Association, American Distilled Spirits Alliance, Spirits Europe, Distilled Spirits Council of the US and Wine and Spirits Wholesalers of America.

According to the coalition, suspending tariffs could alleviate economic harms and help re-establish trading relationships between the nations.

In a statement, the groups said: “The Covid-19 pandemic and the necessary closures of non-essential businesses continue to affect the global economy, including our sectors which support millions of jobs on both sides of the Atlantic.

“The ongoing EU-US trade disputes and additional tariffs, which continue to plague transatlantic trade, have made a bad situation worse. With the damages we have suffered last year and are still suffering, the current situation cannot be allowed to go on any longer.”

“We believe the immediate suspension of these tariffs is a necessary and fundamental action, which will provide an economic stimulus at a time when it is needed most.”

“Our industries support a constructive and flourishing trade and economic relationship between the US and EU. Removal of these tariffs will provide the positive momentum to reset the important bilateral relationship and cooperative efforts to address global economic challenges. In addition, a shared commitment to avoid new additional tariffs will create necessary certainty and stability for growing the transatlantic economy.”

The US, EU and the UK have been embroiled in ongoing trade disputes since 2018. A 25% tariff on single malt Scotch, single malt Irish whiskey and liqueurs from the EU and the UK has been in place since October 2019.

The EU retaliated in November 2020 with a 25% tariff on imports of US rum, brandy, vodka and vermouth. The US recently imposed a 25% tariff on European goods including Cognac and brandy from France and Germany.

It looks like you're in Asia, would you like to be redirected to the Drinks Business Asia edition?

Yes, take me to the Asia edition No